Variety RSI w/ Fibonacci Auto Channel [Loxx]

Variety RSI w/ Fibonacci Auto Channel is an RSI indicator with 7 different RSI types and 4 Fibonacci Channels. This indicator has signal crossing options for signal, middle, and all Fibonacci levels. Bar and fill coloring is using a signal-determinant gradient coloring system to show signal strength or weakness.

What is RSI?
The relative strength index (RSI) is a momentum indicator used in technical analysis. RSI measures the speed and magnitude of a security's recent price changes to evaluate overvalued or undervalued conditions in the price of that security.

The RSI is displayed as an oscillator (a line graph) on a scale of zero to 100. The indicator was developed by J. Welles Wilder Jr. and introduced in his seminal 1978 book, New Concepts in Technical Trading Systems.

The RSI can do more than point to overbought and oversold securities. It can also indicate securities that may be primed for a trend reversal or corrective pullback in price. It can signal when to buy and sell. Traditionally, an RSI reading of 70 or above indicates an overbought situation. A reading of 30 or below indicates an oversold condition.

Included

• Bar coloring
  
• 6 types of signal crossing options
  
• Alerts
  
• Loxx's Expanded Source Types
  
• Loxx's RSI Variety RSI types
  

Versionsinformation:

Cleaned up input formatting.

Versionsinformation:

Small coloration fix, some bars were disappearing.

Versionsinformation:

Removed unused inputs.